http://www.reedconstructiondata.com/alex-carrick/ Reed Construction Data Chief Economist Alex Carrick discusses current developments in Canada's economic environment. He also shares light-hearted reflections on life and current events. en rcdwebmaster@reedconstructiondata.com Copyright 2009 2009-06-29T06:00:00-05:00 http://www.reedconstructiondata.com/alex-carrick/post/the-two-biggest-issues-for-the-world-economy/ http://www.reedconstructiondata.com/alex-carrick/post/the-two-biggest-issues-for-the-world-economy/#When:06:00:00Z I’m betting that Ben Bernanke, Mark Carney, Jean-Claude Trichet, Mervyn King and others of their ilk – heads of central banks in the U.S., Canada, Europe and England respectively − are having some sleepless nights these day. The global economy is sailing off into uncharted waters that are full of sea monsters and tempests, with compass readings that are no longer accurate and few comely mermaids to guide them. Market Insights, Economy & Finance, US, CAN 2009-06-29T06:00:00-05:00 http://www.reedconstructiondata.com/alex-carrick/post/five-more-questions-from-the-canadata-webinar-on-the-economic-and-construct/ http://www.reedconstructiondata.com/alex-carrick/post/five-more-questions-from-the-canadata-webinar-on-the-economic-and-construct/#When:06:00:00Z During CanaData’s webinar on the economic and construction outlooks on Tuesday, June 23rd, I was not able to get to all of the questions that were submitted by viewers and participants. Therefore, this blog entry takes a stab at dealing with a number of the questions that remained outstanding after the event concluded. Market Insights, Construction Forecasts, Costs & Materials, Economy & Finance, Housing, CAN, British Columbia, Ontario, Quebec, Saskatchewan 2009-06-25T06:00:00-05:00 http://www.reedconstructiondata.com/alex-carrick/post/canadas-merchandise-trade-key-export-markets-and-construction-opportunities/ http://www.reedconstructiondata.com/alex-carrick/post/canadas-merchandise-trade-key-export-markets-and-construction-opportunities/#When:06:00:00Z Canada’s merchandise trade position fell into deficit again in April 2009. This was the third month of deficit in the last six months of awesomely weak trade numbers. Canada usually runs an annualized trade surplus of around $50 billion. It is no coincidence that the recession is coinciding with the nation’s poor performance on the trade front. What is needed for Canada to see an improvement in its trade position? Market Insights, Commercial Building & Heavy Engineering, Costs & Materials, Economy & Finance, CAN, British Columbia, Ontario 2009-06-16T06:00:00-05:00 http://www.reedconstructiondata.com/alex-carrick/post/construction-starts-commodity-position-limits-oil-prices-and-the-loonie/ http://www.reedconstructiondata.com/alex-carrick/post/construction-starts-commodity-position-limits-oil-prices-and-the-loonie/#When:06:00:00Z The first half of 2009 is almost complete and the pattern of Canada’s construction starts has not altered much since the beginning of the year. But change is in the works and the following looks at where some of the major pluses and minuses will arise. Market Insights, Economy & Finance, CAN 2009-06-10T06:00:00-05:00 http://www.reedconstructiondata.com/alex-carrick/post/the-united-states-needs-canada/ http://www.reedconstructiondata.com/alex-carrick/post/the-united-states-needs-canada/#When:06:00:00Z I have written before about the benefits of a joint currency and common market between the United States and Canada. Unique in the history of the U.S. and Canada, the former needs the latter to a greater degree than ever before, whether it knows it or not. Future investment plans and mega construction projects are hanging in the balance. The time may have finally come to bond further in ways that will help each of us realize our long-term goals. Market Insights, Commercial Building & Heavy Engineering, Economy & Finance, US, CAN, Alberta 2009-06-04T06:00:00-05:00 http://www.reedconstructiondata.com/alex-carrick/post/ontarios-prosperity-may-depend-on-a-stronger-valued-loonie/ http://www.reedconstructiondata.com/alex-carrick/post/ontarios-prosperity-may-depend-on-a-stronger-valued-loonie/#When:06:00:00Z This story turns conventional wisdom on its head. A lower-valued Canadian dollar is supposed to be good for Central Canada’s economy because it helps manufacturers make export sales to the U.S. and it reduces the incentive for Canadians to travel abroad. However, in the new economy that is emerging, a higher-valued Canadian dollar may actually benefit central Canada, and particularly Ontario, to a greater extent overall. Market Insights, Economy & Finance, CAN, Alberta, Ontario 2009-06-01T06:00:00-05:00 http://www.reedconstructiondata.com/alex-carrick/post/due-to-the-recession-electric-power-markets-in-ontario-and-quebec-are-in-a-/ http://www.reedconstructiondata.com/alex-carrick/post/due-to-the-recession-electric-power-markets-in-ontario-and-quebec-are-in-a-/#When:06:00:00Z The recession is having impacts on construction in ways that may not, at first, be readily apparent. For example, electric power usage in North America is currently in what might be termed a brief hiatus. Longer-term, it is hard to image that the need for electricity can be anything but expansive. This will be particularly true for power that can be generated in an environmentally friendly way. However, in the short-term, with raw materials production and manufacturing in recessionary decline, power usage has dropped. Market Insights, Commercial Building & Heavy Engineering, Economy & Finance, CAN, Ontario, Quebec 2009-05-27T06:00:00-05:00 http://www.reedconstructiondata.com/alex-carrick/post/ten-key-differences-between-the-current-recession-and-the-great-depression/ http://www.reedconstructiondata.com/alex-carrick/post/ten-key-differences-between-the-current-recession-and-the-great-depression/#When:06:00:01Z There are many ways in which the current recession differs from the Great Depression of the 1930s. Ten key points of variation can be separated into four socio-economic categories. Market Insights, Economy & Finance, US, CAN 2009-05-21T06:00:01-05:00 http://www.reedconstructiondata.com/alex-carrick/post/obama-nation-or-abomination-the-two-polarities-in-us-politics/ http://www.reedconstructiondata.com/alex-carrick/post/obama-nation-or-abomination-the-two-polarities-in-us-politics/#When:06:00:00Z I could not resist the headline to this article. Maybe it has been used before by someone else. But it came to me while thinking about some of the top U.S. news programs. Apparently you are either for Barack Obama or very much against him. The U.S. will either prosper as the new Obama Nation, which involves more government intervention, or it will become an abomination as socialist policies lead to rapid decline. Market Insights, Economy & Finance, US, CAN 2009-05-12T06:00:00-05:00 http://www.reedconstructiondata.com/alex-carrick/post/canadatas-construction-starts-are-depressed-but-a-familiar-pattern-is-emerg/ http://www.reedconstructiondata.com/alex-carrick/post/canadatas-construction-starts-are-depressed-but-a-familiar-pattern-is-emerg/#When:15:00:00Z CanaData’s construction starts statistics through April 2009 remain quite depressed. Total square footage in all categories of construction is -52% year to date versus the first four months of last year. The dollar volume of starts is -30%. That being said, however, an interesting pattern has emerged within the type-of-structure categories and it shows up most readily in the Top 10 starts list for the month. Nine of the top 10 construction project starts in April were either engineering or institutional work. Market Insights, Commercial Building & Heavy Engineering, Construction Starts, CAN, Alberta, British Columbia, Manitoba, New Brunswick, Ontario, Quebec, Saskatchewan 2009-05-07T15:00:00-05:00